Is Filing for Bankruptcy Public Record?

When faced with overwhelming financial hardship, bankruptcy may be a
very logical and suitable solution. While it is obvious that your
creditors will be notified of your filing, you should also be aware
that bankruptcy filings are public information. Understanding
Public RecordsThe Freedom of Information Act (FOIA) was created in
1966 and stemmed from the idea that citizens have a right to the same
information as our government. With minimal research, public records
can rightfully be accessed by anyone.Time FrameUnlike credit
reports, public record remains forever accessible. Long after your
credit is repaired and this difficult ordeal is seemingly behind you,
anyone can join a websit

If bankruptcy is the course you chose for dealing with your heavy
debts, then expect most of the information that you provide to the
federal court to be a matter of public record that anyone can look at.
In fact, every bankruptcy court in the country is part of the federal
judiciary's Public Access to Court Electronic Records (PACER) online
database, which anyone can access as long as they make arrangements to
pay for printed copies. Local newspapers often publish weekly or
monthly bankruptcy filings from the nearest federal district
court.Difficulty:Moderately EasyInstructions Things You'll
NeedPetition for bankruptcy filing and other required
documents

Bankruptcy is both a financial and emotional challenge for consumers.
Many people who file feel the information should be private and are
worried that friends, family, employers or colleagues will find out
about their bankruptcies. While bankruptcy papers are generally public
record, under certain circumstances you can protect some information.
Public RecordsSection 107 of the Bankruptcy Code provides that
generally all papers you file in a bankruptcy case are available to
the public for viewing. A person or entity can view such public
records at a reasonable time at the bankruptcy court or on the court's
electronic case filing system.Exception: Proprietary InformationIf
your bankrupt

Bankruptcy is commonly used to prevent or delay foreclosure.
Bankruptcy cancels the mortgage debt and prevents the lender from
filing a deficiency judgment to recoup the loss. If you surrender the
home in bankruptcy, the foreclosure will not be reported on your
credit. There are credit consequences associated with filing
bankruptcy. A homeowner should carefully consider all options before
choosing bankruptcy. Delaying ForeclosureImmediately after filing a
bankruptcy petition, the court issues an automatic stay. The automatic
stay stalls the foreclosure process. As long as the stay is in effect,
lenders are unable to continue with collection activity. In some
cases, the lender can file a m

Bankruptcy proceedings happen in court, and practically everything
that occurs in a court of law in the United States is public record.
Not only are bankruptcy records public record, but a number of online
archives --- including the U.S. National Archives and Public Access to
Electronic Court Records --- allow fast and easy searches from any
computer with Internet. Public RecordBankruptcy proceedings are
public record --- you can access anyone's and anyone can access yours.
The records include quite a lot of details as well, such as names,
dates, debt at the time of filing, assets at the time of filing,
exempt property and which debts were discharged by the
proceedings.Finding Bankrup

Much of your personal financial information is a matter of public
record, and as such, it can be made available for anyone to view. In
Delaware and all other states in America, if you have a bankruptcy
filing in your past, it will appear in the public information section
of your credit report. Personal bankruptcies generally remain on your
credit report for seven (Chapter 13) to 10 (Chapter 7) years.
Public InformationA public record is documented information, generally
kept in a database of various types of documents accessible to the
general public. Many public records, in addition to being stored in a
physical location, also are stored electronically and accessible via
Internet. A publ

A significant benefit of a bankruptcy filing is the automatic stay.
The automatic stay is a court injunction that automatically prevents
the filing of any liens and lawsuits once the bankruptcy case is
filed. Although the automatic stay may be lifted in certain
circumstances by a motion, it may not be lifted merely to record a
lien, such as a mechanic's lien. Bankruptcy and the Mechanic's
LienA mechanic's lien is a lien filed against property, usually by a
contractor, due to non-payment. For example, a contractor may file a
mechanic's lien against a house if the owner fails to pay the work
bill. If the owner files for bankruptcy, he and his property are
protected from the filing of any li

Depending on the type of bankruptcy filed, the outcomes will be very
different. Chapter 7 and chapter 11 bankruptcies differ in how assets
are handled and the required actions of the filers. Chapter 7
functions as a liquidation bankruptcy and chapter 11 as a form of
reorganization; chapter 7 brings operations to a close, while chapter
11 presents an opportunity for debtors to make changes and continue
on. TypesIn chapter 7 bankruptcies, virtually all of the debtor's
assets are sold to repay creditors. Personal items, such as clothing
or primary residence are typically left in possession of the debtor.
Chapter 11 is known as a reorganization bankruptcy because the debtor
continues to oper